Inmarsat upgraded by Barclays

07/11/2016

Barclays Capital has upgraded its investment rating on Inmarsat (LON:ISAT) to ‘equal weight’ from ‘underweight’ after the satellite services provider reported better than expected third-quarter numbers, stating that the risk/reward now appears balanced.

The broker added that high execution risk, rising competition and a valuation that still factors in sustained growth acceleration prevents it from adopting a more positive stance.

Analysts have raised their price target by 15 per cent to 860 pence a share (from 745 pence), implying around 12 per cent potential upside.